CAD/JPY - 1H - Technical analysis published on 10/28/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
6%
22%
My opinion
Bullish above 109.98 JPY
My targets
110.65 JPY (+0.19)
110.88 JPY (+0.42)
My analysis
The bullish trend is currently very strong on CAD/JPY. As long as the price remains above the support at 109.98 JPY, you could try to benefit from the boom. The first bullish objective is located at 110.65 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 110.88 JPY as an objective. Crossing it would then enable buyers to target 112.09 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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This analysis was given by charleslee08. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY price is 110.46 JPY. On the day, this instrument gained +0.73% with the lowest point at 109.87 JPY and the highest point at 110.73 JPY. The deviation from the price is +0.54% for the low point and -0.24% for the high point.109.87
110.73
110.46
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of CAD/JPY in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 108.78 | 109.35 | 109.98 | 110.46 | 110.65 | 112.09 | 115.82 |
| Change (%) | -1.52% | -1.00% | -0.43% | - | +0.17% | +1.48% | +4.85% |
| Change | -1.68 | -1.11 | -0.48 | - | +0.19 | +1.63 | +5.36 |
| Level | Major | Minor | Major | - | Intermediate | Intermediate | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 108.78 | 109.07 | 109.36 | 109.65 | 109.94 | 110.23 | 110.52 |
| Camarilla | 109.50 | 109.55 | 109.61 | 109.66 | 109.71 | 109.77 | 109.82 |
| Woodie | 108.79 | 109.07 | 109.37 | 109.65 | 109.95 | 110.23 | 110.53 |
| Fibonacci | 109.07 | 109.29 | 109.43 | 109.65 | 109.87 | 110.01 | 110.23 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 105.56 | 106.77 | 108.22 | 109.43 | 110.88 | 112.09 | 113.54 |
| Camarilla | 108.93 | 109.17 | 109.42 | 109.66 | 109.90 | 110.15 | 110.39 |
| Woodie | 105.67 | 106.83 | 108.33 | 109.49 | 110.99 | 112.15 | 113.65 |
| Fibonacci | 106.77 | 107.79 | 108.42 | 109.43 | 110.45 | 111.08 | 112.09 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 96.78 | 99.79 | 103.03 | 106.04 | 109.28 | 112.29 | 115.53 |
| Camarilla | 104.54 | 105.11 | 105.69 | 106.26 | 106.83 | 107.41 | 107.98 |
| Woodie | 96.89 | 99.85 | 103.14 | 106.10 | 109.39 | 112.35 | 115.64 |
| Fibonacci | 99.79 | 102.18 | 103.66 | 106.04 | 108.43 | 109.91 | 112.29 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 60.60 | |
| MACD (12,26,9): | 0.2100 | |
| Directional Movement: | 16.48 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 110.36 | |
| Parabolic SAR (0,02-0,02-0,2): | 109.88 | |
| Elder Ray (13): | 0.15 | |
| Super Trend (3,10): | 109.78 | |
| Zig ZAG (10): | 110.32 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 78.13 | |
| TEMA (21): | 110.55 | |
| Williams %R (14): | -27.20 | |
| Chande Momentum Oscillator (20): | 0.74 | |
| Repulse (5,40,3): | -0.0400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 1.48 |
| MA7: | 109.53 | |
| MA20: | 108.82 | |
| MA50: | 107.23 | |
| MA100: | 110.16 | |
| MAexp7: | 110.40 | |
| MAexp20: | 110.13 | |
| MAexp50: | 109.94 | |
| MAexp100: | 109.73 | |
| Price / MA7: | +0.85% | |
| Price / MA20: | +1.51% | |
| Price / MA50: | +3.01% | |
| Price / MA100: | +0.27% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.30% | |
| Price / MAexp50: | +0.47% | |
| Price / MAexp100: | +0.67% |
Quotes :
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Real time data
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Forex
News
The last news published on CAD/JPY at the time of the generation of this analysis was as follows:
-
CAD/JPY Forecast October 28, 2024
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CAD/JPY Forecast October 23, 2024
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CAD/JPY Forecast October 11, 2024
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CAD/JPY Forecast September 12, 2024
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CAD/JPY Forecast September 2, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
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